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Headquartered in Nashville, TN, CVS Caremark Rx is the nation's premiere pharmacy service provider and a leading pharmaceutical service company. CVS Caremark Rx provides help and benefits for those needing prescriptions, specialty pharmacy services or CarePatterns disease management programs which provide care for specific health conditions. ** NOTE: As a privately held subsidiary of a publicly traded parent company, annual revenue and employee count are not readily available. Therefore, the revenue and employee figures presented below are those of the parent company. **

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DailyVista

CVS tests high-end concept Beauty 360

The Story

National drug store chain CVS Caremark announced that it has begun testing a high-end beauty store concept this year in an effort to tap into growing demand for skin care and cosmetics, according to USA Today.

The Woonsocket, R.I.-based company plans to call the stores Beauty 360, and will most likely open the new retail concept by the end of the year. By strategically placing one Beauty 360 store next to existing CVS stores on the East and West coasts, CVS hopes to make the connection between the two shops among consumers.

CVS has made strides in its expansion efforts recently, primarily in the healthcare realm. This shift in focus began last year with CVS’ acquisition of Caremark, a pharmacy benefits manager.

CVS is the nation’s premiere pharmacy service provider and a leading pharmaceutical service company that fills or manages over one billion prescriptions every year. The company currently operates about 6,200 stores throughout the country.

The Research

CVS’ new beauty stores are expected to carry 32 lines of skin care and cosmetics plus a number of fragrances.

“The chain of upscale beauty emporiums will create a unique beauty experience that will offer an edited selection of prestige and specialty brands, superior service and the convenience of locations adjacent to CVS pharmacy stores, with access to Beauty 360 through a breezeway,” spokesperson Joanne Dwyer told DailyVista.

She said that Beauty 360 is the “natural evolution” of CVS pharmacy’s commitment to beauty, which will become more noticeable in its drug stores. She declined to comment any further, since the stores have not officially launched yet, and she felt it would be premature to discuss marketing strategy.

This effort comes about two weeks after CVS announced its agreement to acquire Longs Drug Stores for $2.9 billion dollars, giving CVS Caremark control of over 500 Longs locations.

In this deal, CVS hopes to become a major drug store player in California and by dramatically expanding its retail locations without having to find and develop new store sites.

According to The List database, Chicago-based Rivet Global has served as CVS’ agency of record since 2003, and Boston-based Hill Holliday Connors Cosmopulos has handled its media planning and buying, and some creative project work since 2002.

Nielsen Monitor-Plus reported that the company spent about $118.8 million on measured media in 2007. About $39 million was spent on local newspaper, $26.8 million was spent on network television and $16.6 million was spent on spot radio ads.

The Direction

Agencies that would be interested in working with CVS to create a campaign for Beauty 360, or are interested in assisting with various types of creative work, should contact the company to express your firm’s ability to contribute to the new store concept’s strategy.